Indian equity benchmark indices managed to post gains on Tuesday on the back of buying in IT stocks and select largecap counters, after the Q4 result season ended, despite delay in the West Asia truce. The BSE Sensex jumped 382.50 points, or 0.52 per cent, to close at 74,649.84, while NSE's Nifty50 gained 100.95 points, or 0.43 per cent, to end at 23,483.55.
Select buzzing stocks including Chennai Petroleum Corporation Ltd, Parag Milk Foods and ACME Solar Holdings Ltd are likely to remain under the spotlight of traders for the session today. Here is what Rajesh Palviya, Head of Research at Axis Direct. has to say on them ahead of Wednesday's trading session:
ACME Solar Holdings | Buy | Target Price: Rs 350-370 | Stop Loss: Rs 310
ACME Solar reached an all-time high of Rs 337, forming a series of higher tops and bottoms, which indicates strong bullish sentiment. Additionally, it decisively surpassed multiple resistance zones at the Rs 322 level on a closing basis, accompanied by high volumes. The daily 'Bollinger Band' buy signal indicates increased momentum. The daily, weekly and monthly RSI is in favorable territory, indicating rising strength across all time frames. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 350-370, and its downside support zone is the Rs 320-305 levels.
Chennai Petroleum Corporation | Buy | Target Price: Rs 1,170-1,200 | Stop Loss: Rs 1,075
Chennai Petro is in a strong uptrend across all time frames, forming a series of higher tops and bottoms, which indicates a positive bias. On the weekly chart, the stock has a 'rounding bottom' formation, indicating bullish sentiment. The stock is well placed above its 20, 50, 100 and 200-day simple moving averages (SMAs). These averages are also inching up along with the price rise, which reconfirms the bullish trend. The daily 'Bollinger Band' buy signal indicates increased momentum. The rising volume of the rally signifies increased participation. Investors should consider buying, holding, and accumulating this stock. Its expected upside is 1170-1200, and its downside support zone is the Rs 1,100-1,050 levels.
Parag Milk Foods | Buy | Target Price: Rs 260 | Stop Loss: Rs 230
Parag Milk Foods Ltd has experienced a short-term trend reversal by forming a higher top and bottom formation on the daily charts. In addition, the stock also confirmed a breakout above the past month's "down-sloping trendline" at the 228 level, accompanied by huge volumes. The stock is well placed above the 20, 50 and 100-day SMAs, which reconfirms bullish sentiment. The daily and weekly RSI is in favorable territory, indicating rising strength on the short to medium-term chart. Investors should consider buying, holding, and accumulating this stock. Its expected upside is Rs 260-270, and its downside support zone is the Rs 233-227 levels.
Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Jun 3, 2026 8:31 AM IST
此内容由惯性聚合(RSS阅读器)自动聚合整理，仅供阅读参考。 原文来自 — 版权归原作者所有。